TE Connectivity Ltd (NYSE:TEL) declared a quarterly dividend on Monday, February 11th, NASDAQ reports. Investors of record on Friday, February 22nd will be paid a dividend of 0.44 per share by the electronics maker on Friday, March 8th. This represents a $1.76 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, February 21st.
TE Connectivity has raised its dividend by an average of 10.4% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. TE Connectivity has a dividend payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TE Connectivity to earn $6.05 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 29.1%.
Shares of NYSE TEL opened at $80.08 on Tuesday. The firm has a market capitalization of $27.25 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.38 and a beta of 1.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.55 and a quick ratio of 0.98. TE Connectivity has a 1-year low of $69.84 and a 1-year high of $106.00.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 23rd. The electronics maker reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.01. TE Connectivity had a net margin of 20.06% and a return on equity of 19.22%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the business posted $1.40 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts expect that TE Connectivity will post 5.45 earnings per share for the current year.
A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research note on Monday, December 31st. Royal Bank of Canada reduced their price objective on shares of TE Connectivity to $96.00 and set a “positive” rating for the company in a research note on Thursday, November 1st. They noted that the move was a valuation call. Robert W. Baird restated a “hold” rating and set a $79.00 price objective on shares of TE Connectivity in a research note on Sunday, January 6th. Jefferies Financial Group initiated coverage on shares of TE Connectivity in a report on Tuesday, December 4th. They issued a “hold” rating and a $84.00 target price on the stock. Finally, ValuEngine raised shares of TE Connectivity from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $97.78.
TE Connectivity declared that its board has approved a share buyback program on Friday, December 14th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the electronics maker to repurchase up to 5.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other TE Connectivity news, CFO Heath A. Mitts sold 12,908 shares of the stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $83.05, for a total transaction of $1,072,009.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.80% of the company’s stock.
About TE Connectivity
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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